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Lease Accounting: How to Ensure Reliable, Effective Implementation and Adoption

LEASE ACCOUNTING: HOW TO ENSURE RELIABLE, EFFECTIVE IMPLEMENTATION AND ADOPTION

Cost Free
Presentation Length 1.0 hour

Recorded DateSeptember 28, 2022
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

There’s a lot of confusion regarding lease accounting. Who should be involved? How many resources are needed? What type of technology should be used? With all of that in mind, it’s understandable that most businesses are overwhelmed, and one-third (33%) of private companies are still not fully prepared to transition to ASC 842. As businesses approach the initial reporting period under the new standard, there is massive pressure to retroactively learn and organize their leases.

In this webinar, lease accounting implementation and adoption experts will share proven processes and tools to accelerate progress, how to get started now and reduce the risk of error, and necessary, critical tips to ensure accurate lease accounting data.

Learning Objectives:


  • Identify proven processes and tools to accelerate progress in transitioning to ASC 842

  • Recognize day two lease accounting complexities and key considerations for handling ASC 842 compliance internally versus outsourcing

  • Summarize critical tips to ensure accuracy and completeness of your lease population

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Joseph Fitzgerald

Visual Lease LLC
SVP of Lease Market Strategy
jfitzgerald@visuallease.com
(732) 734-8064

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Joe has more than 20 years of experience in finance and lease accounting consulting. He informs our product roadmap, deepens strategic partnerships and supports go-to-market strategy. Previously, he served as EY’s practice leader for Lease Accounting and Technology, helping companies navigate the new lease accounting standards.
 

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Matt Watson leads Visual Lease’s Implementation team. With more than 12 years experience, Matt is responsible for ensuring Visual Lease customers receive a positive initial customer experience and successful platform adoption. Prior to his current role, he was responsible for managing customer implementations at various SaaS companies.

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Laura Adams

RSM US LLP
Manager, Technology Consulting
laura.adams@rsmus.com

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Laura has more than five years of experience in accounting and consulting at RSM. She spent more than two years as an auditor for mid-market public and private companies before moving over to consulting where she has spent the majority of her time specializing in Accounting Standards Codification (ASC) 842 and Governmental Accounting Standards Board (GASB) 87 compliance. Laura provides advisory assistance to help companies increase their overall efficiencies, effectiveness, and improve the information technology alignment with business functions and processes. 

Laura specializes in providing assistance in lease accounting matters to companies with a variety of lease portfolio sizes ranging anywhere from 10 leases to 40,000 leases. She has extensive experience in business process improvements, software evaluations and selections, and large-scale implementations within a variety of industries, including retail/restaurant, manufacturing, and public sector entities. Her experience specific to ASC 842 and GASB 87 includes assessment and translation of current business processes and lease accounting requirements in technology solutions for an efficient adoption of the new lease accounting standards; end-to-end implementations of several software solutions that are on time and within budget, including requirements gathering, design, configuration, testing and validation, and end-user training; customized future state processes for on-going lease management and month-end reporting for efficient and accurate results and development of reports and training material for validation and reconciliation of data and balances within the leasing tool for journal entries and disclosure reporting.  

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Troy Sheehan

RSM US LLP
Director, Consulting
troy.sheehan@rsmus.com
(216) 622-1100

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Troy has more than ten years of experience in accounting and consulting at RSM both in the US and the UK. He spent more than six years as an auditor for mid-market public and private companies before moving over to consulting where he has spent the majority of her time specializing in Accounting Standards Codification (ASC) 842 and Governmental Accounting Standards Board (GASB) 87 compliance. Troy provides advisory assistance to help companies increase their overall efficiencies, effectiveness and improve the information technology alignment with business functions and processes. 

Troy specializes in providing assistance in lease accounting matters to companies with a variety of lease portfolio sizes ranging anywhere from 10 leases to 40,000 leases. He has extensive experience in business process improvements, software evaluations and selections and large-scale implementations within a variety of industries, including retail/restaurant, manufacturing and public sector entities. His experience specific to ASC 842 and GASB 87 includes assessment and translation of current business processes and lease accounting requirements in technology solutions for an efficient adoption of the new lease accounting standards; end-to-end implementations of several software solutions that are on time and within budget, including requirements gathering, design, configuration, testing and validation, and end-user training; customized future state processes for on-going lease management and month-end reporting for efficient and accurate results and development of reports and training material for validation and reconciliation of data and balances within the leasing tool for journal entries and disclosure reporting.  
 

About Our Presenter

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Visual Lease is the #1 lease optimization software provider. We help organizations become compliant with FASB, IFRS and GASB lease accounting standards, while simultaneously improving the financial, legal and operational performance of their leases.